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OTTAWA, ON, Feb. 22, 2021 /CNW/ - Tetra Bio-Pharma Inc. (“Tetra Bio-Pharma“ or the “Company“) (TSX:TBP) (OTCQB:TBPMF), a biopharmaceutical pioneer in immunomodulator drug discovery and development, is pleased to announce that is has entered into an agreement with Canaccord Genuity Corp. and Leede Jones Gable Inc. (together, the “Underwriters“) pursuant to which the Underwriters have agreed to purchase, on a bought-deal basis, 45,500,000 units of the Company (the “Equity Units“) at a price of $0.22 per Equity Unit for gross proceeds to the Company of $10,010,000 (the “Offering“).
Each Equity Unit will consist of one common share of the Company (a “Common Share“) and one Common Share purchase warrant (a “Warrant“). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.28 (the “Exercise Price“) at any time up to 36 months following Closing (as defined below).
The Company has granted the Underwriters an option (the “Over-Allotment Option“), exercisable in part or in whole at the Underwriters' sole discretion, at any time beginning on the closing of the Offering until 30 days following the closing of the Offering, to purchase up to that number of additional Equity Units, Common Shares or Warrants, or any combination thereof, as is equal to 15% of the aggregate number of Equity Units sold in the Offering to cover over-allotments, if any.
The Equity Units will be offered (i) in each of the provinces of Canada (other than Québec) pursuant to the Company's base shelf prospectus dated April 1, 2020 (the “Base Prospectus“), (ii) in the United States (as such terms are defined in Rule 144A under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act“)) on a private placement basis pursuant to available exemptions from registration requirements of the U.S. Securities Act and applicable U.S. state securities laws, and (iii) in other offshore jurisdictions pursuant to available prospectus or registration exemptions in accordance with applicable laws. The terms of the Offering will be described in a prospectus supplement to the Base Prospectus to be filed with the securities ...
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